John,
In 2018, the first year of the Trump-GOP tax scam, 34% of large profitable corporations paid $0 in federal income taxes.[1]
Thankfully, we’ve begun to make progress in reversing this trend by implementing a 15% corporate profits minimum tax on billion-dollar corporations as well as a 1% tax on corporate stock buybacks. But much more needs to be done to ensure Big Business is paying its fair share in taxes.
Now, Senator Bernie Sanders and Congresswoman Jan Schakowsky have introduced the Corporate Tax Dodging Prevention Act.[2] This bill would:
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Stop corporations from sheltering profits in tax havens like the Cayman Islands and Luxembourg
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Eliminate tax breaks for companies that ship jobs overseas
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Close loopholes in the tax code that allow corporations to get away with paying little to nothing in taxes
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And, restore the top corporate tax rate to 35% percent, where it was before Trump and Republicans cut it to 21%
Together, these policies will raise more than $2.3 trillion over the next 10 years―money that can be used to lower costs for working people—from healthcare to nutrition to housing, education, and more.
Add your name as a grassroots co-sponsor of the Corporate Tax Dodging Prevention Act to demand Congress unrig our tax code and require large profitable corporations to pay their fair share of taxes.
As Senator Bernie Sanders said upon introduction of the bill:
“As working people struggle to pay rent and put food on the table, we have a corrupt and rigged tax code that is designed to benefit the wealthy and the powerful at the expense of working families ... American workers should not be paying more in federal income taxes, in a given year, than profitable companies like Target, Amazon and T-Mobile.”
And Congresswoman Jan Schakowsky said:
“As big corporations continue to rake in record profits, there are many families struggling to put food on the table ... we must [pass] the Corporate Tax Dodging Prevention Act to help put the interests of everyday Americans ahead of billionaires and transnational corporations.”
Join Bernie Sanders and Jan Schakowsky in holding greedy corporations accountable by adding your name as a grassroots co-sponsor today.
Together, we’re fighting to unrig our tax code and create a future that values all of us.
Thank you for taking action today,
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] NEWS: GAO Study Finds 34% of Large, Profitable Corporations Pay Zero in Federal Income Taxes
[2] NEWS: Sanders Introduces Legislation to Ensure Corporations Finally Pay Their Fair Share in Taxes
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